Page 2040 - Business Finance
DLF to sell 49 pc stake in upcoming commercial project at Gurugram to Hines for about Rs 900 cr
Realty major DLF has agreed to sell 49 per cent stake in its upcoming commercial project at Gurugram to US-based Hines for about Rs 900 crore and the deal is expected to be concluded by December, according to sources. DLF has already signed a term sheet with Hines to develop a prime commercial project on 11.76 acre land parcel in Gurugram that it bought for nearly Rs 1,500 crore through e-auction conducted by the Haryana government in February. The company on Thursday said it has signed a non-binding term sheet with a fund managed by Hines for a 51:49 partnership to develop a high-end commercial project on NH8 at Gurugram. The transaction documents are being negotiated and are expected to be closed within third quarter of this fiscal, it added. "This project entails development of more than 2.5 million sq ft of commercial space," DLF said. According to sources, Hines, which is a privately owned global real estate investment, development and management firm, will invest around Rs 900 ..
Asian shares post biggest monthly losses in nearly 6-1/2 years in October
(Reuters) - Asian shares posted their biggest monthly losses in nearly 6-1/2 years in October on worries over slowing corporate earnings, higher U.S yields, and trade tensions between the United States and China.
Indian Oil Corporation standalone net profit declines 12.16% in the September 2018 quarter
Sales rise 45.76% to Rs 132034.75 crore
Enterprise International reports standalone net profit of Rs 0.74 crore in the September 2018 quarter
Sales rise 39.10% to Rs 12.95 crore
Redex Protech standalone net profit declines 75.00% in the September 2018 quarter
Sales reported at Rs 0.01 crore
M M Rubber Co standalone net profit rises 120.00% in the September 2018 quarter
Sales rise 17.82% to Rs 7.14 crore
Bajaj Hindusthan Sugar reports standalone net profit of Rs 25.08 crore in the September 2018 quarter
Sales rise 2.91% to Rs 1550.38 crore
Bharat Forge standalone net profit rises 11.66% in the September 2018 quarter
Sales rise 33.48% to Rs 1679.21 crore
Hindalco Industries gains after declaring Q2 result
Hindalco Industries rose 3.98% to Rs 240.25 at 15:12 IST on BSE after the company declared robust Q2 result during market hours today, 2 November 2018.
Procter & Gamble Q1 net up 24.7 pc to Rs 144.11 crore
FMCG major Procter & Gamble (P&G) Friday reported a 24.70 per cent increase in net profit at Rs 144.11 crore for the first quarter ended September 2018, led by volume growth. The company, which follows the July-June financial year, had posted a net profit of Rs 115.56 crore during the corresponding quarter of the previous fiscal, P&G said in a BSE filing. Total income during the quarter under review stood at Rs 815.36 crore, up 23.32 per cent, as against Rs 661.13 crore in the July-September period of the last fiscal. P&G Hygiene and Health Care Managing Director Madhusudan Gopalan said, "We generated strong top and bottom line results this quarter driven by robust volume growth, category development and execution excellence." P&G's total expenses stood at Rs 594.73 crore as compared to Rs 483.39 crore earlier, up 23.03 per cent. Over the outlook, he said: "We will continue to focus on raising the bar on superiority of our products, packaging, go-to-market and ...
Godrej Consumer Products Q2 net up 59.61% to Rs 577.73 cr
Homegrown FMCG major Godrej Consumer Products (GCPL) Friday reported a 59.61 per cent year-on-year jump in consolidated net profit at Rs 577.73 crore in the second quarter ended September. The company had posted a profit of Rs 361.95 crore in the corresponding period last fiscal, it said in a statement. Consolidated total revenue from operations increased to Rs 2,685.18 crore in the quarter under review, compared with Rs 2,525.54 crore in the year-ago period. The company's India revenue increased to Rs 1,507.61 crore, from Rs 1,363.78 crore last year. "We had a mixed performance in the second quarter of fiscal year 2019. Our India business delivered double-digit sales growth and strong profit growth, while stepping up our investments in marketing," GCPL executive chairperson Nisaba Godrej said. "In our international business, Indonesia continued its strong recovery, while Africa and Latin America recorded relatively weaker performances due to adverse macroeconomic ...
Lanka's new PM Rajapaksa cuts petrol prices by Rs 10 amid political crisis
Notwithstanding the political crisis in Sri Lanka, new Prime Minister Mahinda Rajapaksa on Friday significantly slashed fuel prices, saying "ill-conceived" financial policies of the previous government have affected the economy and raised the cost of living. Rajapaksa, who is also the Finance Minister, reduced the prices of petrol and diesel by Rs 10 (USD 0.058) and Rs 7 (USD 0.048) per litre respectively as he announced a new series of economic relief measures. The announcement was made even as the constitutional validity of Rajapaksa's appointment has come under increased scrutiny both locally and internationally. The Finance Ministry said in a statement that concerns have been raised regarding the serious setback in the economy as reflected in the persistently low growth rates during the last three years along with the rising cost of living. "The honorable Prime Minister (Rajapaksa) is of the view that ill-conceived economic and financial policies of the previous government have ...
Mahindra rolls out Blazo variant of heavy trucks
Homegrown auto major Mahindra and Mahindra (M&M) Thursday launched a more fuel efficient variant of its heavy truck Blazo. Since its launch in February 2016, the Blazo has helped M&M increase its volume and double its market share growth. Its heavy truck volume grew 79 per cent in the first half of the fiscal compared to a 56 percent industry growth, garnering a market share of 4.9 percent, while in the LCV segment, it has a market share of 9.4 percent, the company said. Currently, 21,000 Blazos are on roads since its launch in February 2016, and nearly 44 percent of sales are by repeat customers, Rajan Wadhera, president for automotive sector at M&M, said. The new range called Blazo X, addresses the rising fuel cost woes of transporters by delivering higher mileage than the existing model or return the truck. It did not announce the price range of the new vehicle. The Blazo X are being rolled out from its Chakan, Pune facility, features many improvements, .
Malaysia's new government sets bigger budget, cuts fiscal targets
KUALA LUMPUR (Reuters) - Malaysia on Friday unveiled an expanded budget and set a higher fiscal deficit target for 2019 as the new Mahathir Mohamad-led government faced challenges of a slowing economy, shrinking revenue and a debt pile left by the previous administration.
Euro zone factory growth slowed again in October, in latest sign of weakness: PMI
LONDON (Reuters) - Euro zone factory activity grew at its weakest pace in more than two years last month as export orders fell for the first time since late 2014, a survey showed, adding to evidence the bloc's economy is well past its peak.
Big believer in India, weak currency just speed bump: Tim Cook
Admitting that his business in India was flat in the fiscal fourth quarter and weak currency trends worry him although these are just "speed bumps", Apple CEO Tim Cook reiterated that he is a big believer in the country and can't wait for the future there.
Japan's Hitachi Chemical finds improper testing of 30 more products
TOKYO (Reuters) - Japan's Hitachi Chemical Co has found improper tests were conducted on nearly 30 more products, accounting for about a tenth of revenues, the firm said on Friday, deepening a compliance crisis that has battered its shares.
Board of Kirloskar Pneumatic Company decides to exit from JV Kirloskar AECOM
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WPIL to declare Quarterly Result
On 9 November 2018
Indian Oil Corporation consolidated net profit declines 12.59% in the September 2018 quarter
Sales rise 47.89% to Rs 132357.08 crore